Section 2(b) in The Preference Shares (Regulation Of Dividends) Act, 1960
(b)"Company" means an Indian Company as defined in [clause (26) of section 2 of the Income-tax Act, 1961 and includes a company referred to in sub-section (ii) of clause (17)] of the said section which has made arrangements for the declaration and payment of dividends within India in accordance with the rules made under the said Act;
